The following is how SRM using machine learning can help in contract optimization:

Enhance accuracy and reduce errors

can improve the accuracy of identifying critical clauses, potential risks, and inconsistencies in contracts, minimizing the risk of oversight. 

Improve contract negotiation

By analyzing historical data and identifying patterns, can provide insights and recommendations for optimal contract terms and negotiation strategies. 

Streamline contract lifecycle management

can automate various stages of the contract lifecycle, from drafting and review to approval and execution, speeding up the process and reducing errors. 

Identify and mitigate risks

can analyze contract data to identify potential risks, such as unclear language, missing clauses, or inconsistencies, allowing for proactive risk mitigation.